Business Dictionary :

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Levy : noun : money which is demanded and collected by the government

Capital Levy = tax on the value of a person's property and possessions

Import Levy = tax on imports especially in the EEC

Import Levy = a tax on imports of farm produce from outside the EEC

Levies on Luxury Items = taxes on luxury items

Training Levy = tax to be paid by companies to fund the government's training schemes

Levy : verb : to demand payment of a tax or an extra payment and to collect it

  • The government has decided to levy a tax on imported cars.

  • To levy a duty on the import of luxury items…

  • To levy members for a new club house = to ask members of the club to pay for the new building…

  • QUOTE : Royalties have been levied at a rate of 12.5% of full production.
    (Lloyd’s List)

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